Bitcoin mining giant Riot Platforms Inc. has made another huge splash into BTC to increase its holdings. As announced, the company bought a total of 5,113 Bitcoin for approximately $510 million. This acquisition is reminiscent of ongoing trends of Bitcoin buyup by Wall Street firms.
Riot Platforms and Bitcoin Agenda
As reported earlier this week, the company announced it is raising $500 million via Convertible bond issue to buy more Bitcoin. In the purchase announcement, Riot Platforms said it used proceeds from the fundraising to buy 5,117 BTC at an average price of $99,669 per BTC, inclusive of fees and expenses.
With this latest purchase, the mining firm has increased its holdings to 16,728 BTC. These Bitcoin stash is currently valued at approximately $1.68 billion based on the current market price of BTC of $100,303.
This is a developing story, please check back for updates!!!
The post Breaking: Riot Platforms Buys Another 5,113 Bitcoin for $510 Million appeared first on CoinGape.
